India’s Larsen & Toubro eyes Oman refinery deal
The contract estimated at $300 million-says official.
November 8, 2010 10:02 by Reuters
Indian engineering and construction firm Larsen & Toubro is bidding for an Oman refinery expansion contract estimated at $300 million, a company official said on Sunday.
“We are bidding for the Sohar refinery expansion project as part of our commitment to help Oman’s ambitions to build its oil and gas infrastructure,” K. Venkataramanan, President of Operations at Larsen & Toubro, told reporters.
The refinery, the largest in Oman, has a capacity of 116,000 barrels per day (bpd) which would be increased to 190,000 bpd.
In June, officials said the expansion was expected to cost $300 million. Oman has been investing heavily in its oil sector to increase output and has managed to turn around declining production.
The refinery expansion will increase feedstock to Omani industries, as well as contributing to the availability of refined fuels for export to international markets.
Larsen & Toubro regularly wins projects in Oman ranging from roads to power stations.
(Reporting by Saleh al-Shaibany; Editing by Erica Billingham)